Significant Appraisal Assistance (1004p)

[ICT RE]

Ironically I just got an e-mail for CE to become a Home Measuring Specialist. https://appraiserelearning.com/prod...-15574809&mc_cid=8118161e4e&mc_eid=454259b44c

What is it?

The Home Measurement Specialist programs are visual online classes for real estate agents or appraisers who are looking for specialized training in measuring and understanding the influence of residential square footage. Students leaving this program will be positioned to increase their profitability, enhance their level of client service, and confidently expand their business in a market where “precision” and “quality” are being elevated to new levels.

One would hope that an appraiser is already a “home measurement specialist”, but what do I know.

 

[Mr Rex]

One would hope that an appraiser is already a “home measurement specialist”, but what do I know.

There are several folks here that readily admit to rounding to the nearest foot, because that's what the local assessor does???.

 

[ucbruin]

There are several folks here that readily admit to rounding to the nearest foot, because that's what the local assessor does???.

Interesting that appraisers agree rounding appraised value to the nearest thousand, five thousand, etc. is more credible than valuing to the dollar or one hundred dollar....

Yet believe appraisers' measurements are credible to the nearest quarter to one inch....

Really?

 

[Michigan CG]

There are several folks here that readily admit to rounding to the nearest foot, because that's what the local assessor does???.

I have said that while we may measure more accurately our analysis can't be to less than what our data sources use.

 

[djd09]

[https://appraisalfoundation.sharefile.com/share/view/sfa0e1970fb04e49a

significant errors.

wrong GLA =
wrong comparable selection =
wrong adjustments =
wrong value.

maybe that is why the E&O company called appraisers canaries.

 

[Mr Rex]

Interesting that appraisers agree rounding appraised value to the nearest thousand, five thousand, etc. is more credible than valuing to the dollar or one hundred dollar....

Yet believe appraisers' measurements are credible to the nearest quarter to one inch....

Really?

Yes, if you follow the ANSI standard it's to the nearest inch and GLA to the nearest whole square foot.

 

[Mr Rex]

I have said that while we may measure more accurately our analysis can't be to less than what our data sources use.

But our reporting of our measurements should be to as accurate as possible and should follow some accepted standard. NC does not require a specific standard but recommends ANSI or the NC RE Commission Yellow book aka Residential Square Footage Guidelines, which is almost a verbatim copy of ANSI standards.
http://www.ncrec.gov/brochures/measurement booklet 2013.pdf

 

[Terrel L. Shields]

[https://appraisalfoundation.sharefile.com/share/view/sfa0e1970fb04e49a

relevant.
"sideways interpretation of existing rules and regulations." it says USPAP is a living document subject to change and they are considering the naming inspector issue...

They will do whatever their handlers at Fannie Mae want... roll over, speak, sit, now play dead just like they did with the '99 certification issue. Remember when we were putting 2 certifications in reports because TAF was fussing over whether Fannie Mae made appraisers sign a certification contrary to that USPAP had. Remember who won that battle? FM apparently owns USPAP now. Live with it.

 

[Terrel L. Shields]

There are several folks here that readily admit to rounding to the nearest foot, because that's what the local assessor does???.

And to what purpose is rounding to the 10th or to an inch? Who wants to calculate dimensions in inches. We are estimators, not surveyors. The purpose of measuring is to adjust against comparables. So what comparables do you use where you know the dimensions to an inch or less? None. So introducing false accuracy in the eyes of someone who knows what that is, makes you look like a fool not an expert. And if a board adopts that standard then they are math ignorant fools.

 

[Mr Rex]

The actual measurements do not add false accuracy if they are accurate. Not measuring to a standard adds false accuracy. As I have noted numerous times, since I am not 100% certain of others measurements, when I make adjustments for GLA I often do not adjust for 50sf or less in differences in a small house or 100sf in a larger house. Most people can't tell these differences (without measuring). So I report what I know the GLA of the subject to the 10th of an inch but concede that I have not made adjustments for smallish differences due to the lack of certainty of others measurements. It says I use ANSI measurement standards for the subject sketch in my reports (because I do). It also reveals that I did not adjust for minor differences.